With operations in North America, Europe, Latin America, Russia, Asia, and North Africa, International Paper Company (IP - Free Report) is a premier paper and packaging firm. As part of its restructuring plans to increase focus on its core business, the company has divested its distribution business xpedx along with its corrugated packaging business in China and Southeast Asia. The company has also completed the acquisition of leading timberland owner Weyerhaeuser Co.’s pulp business. IP is likely to gain from its extensive geographic footprint, wide-ranging product portfolio and a differentiated service platform.
In the last four trailing quarters, IP has beaten estimates thrice for an average surprise of 4.1%. As the extent of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, IP has a Zacks Rank #3 (Hold), but that could definitely change following the second-quarter 2017 earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: IP beats earnings. The Zacks Consensus Estimate called for EPS of 64 cents, and the company reported adjusted operating EPS of 65 cents.
Revenues: Revenues exceeded estimates. IP posted revenues of $5,772 million, compared with the Zacks Consensus Estimate of $5,678 million.
Key Stats to Note: IP expects solid traction in the future with price increases, acquisition synergies and significantly lower outage expenses, thereby remaining confident to achieve its full year earnings target.
Stock Price: Shares did not show any change in the pre-market trading following the release at the time of this write-up.
Check back our full write up on this IP earnings report later!
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